Biosimilar Market- Global Strategic Business Report 2017 With Profiles Of 20+ Key Companies

Published On:August 1, 2017, 5:56 pm

biosimilarA biosimilar is also referred as subsequent entry biologic or follow-on biologic. It is a biologic therapeutic product which is nearly an exact same copy of an original product that is produced by a different company and is likely to have active properties, similar to original product. Biosimilars are formally permitted variants of original products, and could be produced when the original product's license expires. Contrasting with generic drugs of the ordinary small-molecule type, biosimilar usually reveal higher molecular complication, and might be pretty sensitive to alterations in production processes.

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Biosimilar manufacturers do not have right of entry in the original product's molecular replica and neither to the accurate purification and fermentation process, nor to the active medicine substance, while they do have right to use marketed original product. On the whole, it is tougher to discover interchangeability involving generics and original amongst biosimilar than it is amid semi-synthesized and completely synthesized medicines, that is why the biosimilar is different than small-molecule generics.

The global biosimilar market is anticipated to grow at rapid pace during the forecast period of 2017 to 2022 with significant compound annual growth rate. The growth of off-patent biosimilar yield is one of the key factors expected to promote the growth of the global biosimilars market in the coming years. These drugs are relatively cost-efficient, due to which the demand is likely to amplify significantly in the near future. Additionally rising occurrence of chronic illnesses such as cancer and diabetes are fueling the demands of pharmaceutic drugs, particularly for the high cost patented drugs. So in that case, these biological drugs are better alternatives.

The global biosimilar market is yet in its premature phase and there is high scope of growth in this field. However, patient’s brand preferences as well as disinclination of doctors to prescribed biologics, the lengthy process of the medical trials for approval of drug and requirement of a complex infrastructure for the manufacturing; these factors are likely to hamper the growth of the global biosimilar market during the forecast period.

 The key market players of the global biosimilar market are Merck & Co., Inc., Pfizer Inc., Novo Nordisk, Roche Pharma, Amgen, Inc., Johnson & Johnson, Eli Lilly and Company, Sanofi-Aventis Pharma Limited and Bayer AG. According to product types, the market industry is split into; primarily split into; Growth Factors, Antibody, Hormone and Other. By application, the global market is classified as; Diabetes, Tumor, Cardiovascular, Hemophilia and Other. Geographically, the global biosimilar market is segmented into regions which are; Southeast Asia, Asia-Pacific, Africa, North America, Europe, Middle East and rest of the world.

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